CrowdStreet, Inc. v. Nitya Capital, LLC

Filing 24

ORDER: Granting Motion for a Preliminary Injunction 22 . See attached order for details. Signed on 1/8/21 by Judge Karin J. Immergut. (jy)

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Case 3:20-cv-02051-IM Document 24 Filed 01/08/21 Page 1 of 3 Amy Edwards, OSB No. 012492 amy.edwards@stoel.com Samantha K. Sondag, OSB No. 154244 samantha.sondag@stoel.com STOEL RIVES LLP 760 SW Ninth Avenue, Suite 3000 Portland, OR 97205 Telephone: 503.224.3380 Facsimile: 503.220.2480 Attorneys for Plaintiff Nancy M. Erfle, OSB No. 902570 nerfle@grsm.com David M. Merryman, OSB No. 181785 dmerryman@grsm.com Gordon Rees Scully Mansukhani, LLP 1300 SW Fifth Avenue, Suite 2000 Portland, OR 97201 Telephone: 503.382.3852 Facsimile: 503.616.3600 Attorneys for Defendant UNITED STATES DISTRICT COURT DISTRICT OF OREGON PORTLAND DIVISION CROWDSTREET, INC., a Delaware corporation, Plaintiff, v. NITYA CAPITAL, LLC, a Texas limited liability company, Case No.: 3:20-cv-02051-IM PRELIMINARY INJUNCTION AND ORDER COMPELLING ARBITRATION AND STAYING CASE Defendant. Page 1 - PRELIMINARY INJUNCTION AND ORDER COMPELLING ARBITRATION AND STAYING CASE 109339194.1 0056994-00013 Case 3:20-cv-02051-IM Document 24 Filed 01/08/21 Page 2 of 3 This matter came before the Court on the Joint Motion for Preliminary Injunction and Order Compelling Arbitration and Staying Case filed by Plaintiff CrowdStreet, Inc. (“Plaintiff”) and Defendant Nitya Capital LLC ("Defendant" and the "Motion", respectively). Being fully advised, the Court orders as follows: Defendant, including its agents, representatives, successors or assigns, and all persons acting in concert or in participation, is preliminarily enjoined from soliciting, or otherwise communicating about investment opportunities or Nitya’s crowdfunding platform with, the CrowdStreet Users identified in Exhibit A, attached to the Motion, unless Defendant first presents Plaintiff with evidence that such Users have affirmatively opted in to receive communications from Defendant, in which case and no earlier than five (5) business days after such evidence is provided to Plaintiff, Defendant may communicate with and accept investment funds from such User. This Order was entered into as a compromise, and except to enforce its terms, this Order shall not be used as evidence in any proceeding for any purpose. The claims are compelled to arbitration and this case is stayed while the Parties resolve Plaintiff’s claims in arbitration. // // // // // // // Page 2 - PRELIMINARY INJUNCTION AND ORDER COMPELLING ARBITRATION AND STAYING CASE 109339194.1 0056994-00013 Case 3:20-cv-02051-IM Document 24 Filed 01/08/21 Page 3 of 3 This Order shall remain in effect, and this Court retains jurisdiction to enforce any violations of this Order, until this action is terminated. Plaintiff shall not be required to pursue any interim or other relief from the arbitration panel before seeking to enforce this Order in this Court, including without limitation by way of a motion for contempt. IT IS SO ORDERED. January 8, 2021 Hon. Karin J. Immergut PRESENTED BY: /s/ Amy Edwards Amy Edwards, OSB No. 012492 amy.edwards@stoel.com Samantha K. Sondag, OSB No. 154244 samantha.sondag@stoel.com Of Attorneys for Plaintiff /s/ Michael E. Richardson Nancy M. Erfle, OSB No. 902570 nerfle@grsm.com David M. Merryman, OSB No. 181785 dmerryman@grsm.com Michael E. Richardson, admitted Pro Hac Vice MRichardson@beckredden.com Alyssa B. McDaniel, admitted Pro Hac Vice AMcDaniel@beckredden.com Of Attorneys for Defendant Page 3 - PRELIMINARY INJUNCTION AND ORDER COMPELLING ARBITRATION AND STAYING CASE 109339194.1 0056994-00013

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